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Retirement tax questions
No, you do not need to send Form 1099-MISC to these web-based companies.
These companies are incorporated, and you don't need to report payments to them
Per the IRS: You are not required to file information return(s) if any of the following situations apply:
- You are not engaged in a trade or business.
- You are engaged in a trade or business and
- the payment was made to another business that is incorporated, but was not for medical or legal services or
- the sum of all payments made to the person or unincorporated business is less than $600 in one tax year
Am I Required to File a Form 1099 or Other Information Return?
‎February 24, 2021
8:53 AM